Welcome to another edition of the CBT News Market Update. To quickly recap this week’s numbers, new car sales came out to a retail SAAR of 13.41, a small 1.7% increase from 13.34 in 2019. Inventory levels among all new vehicles are down 17.6% from 2019, while used car levels were up 11.5%. New-vehicle sales hit 245,659 up 7.5% from last year when the inventory sold was 228,604. Used vehicles continue to stay ahead of last year’s numbers. This week, they sat at 200,175, a solid 14.4% increase from the year prior’s total of 174,978.
Here to break down these sales results and how these numbers reflect larger industry trends are Derek Mah, Vice President of Product for LotLinx and Jasen Rice, Owner of Lotpop, Inc.
Here to break down these sales results and how these numbers reflect larger industry trends are
Here is what our panel covers:
- Proactive stocking vs. reactive buying, and using demand data can help identify which models will need to be restocked and which models should be avoided
- Determining whether to mine your own VDP data or are rely on market data
- Reflecting on your marketing efforts
- Sales slowing to a seasonal pace in Q4
- Decrease in used car demand
Did you miss last week’s CBT News Market Update? Watch it here now and be sure to visit the CBT News Market Center powered by LotLinx for current data on the retail auto market.
Did you enjoy this week’s edition of the CBT News Market Update with Derek Mah and Jasen Rice? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at jfitzpatrick@cbtnews.com.
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